How 2020 changed OTT video consumption
Higher releases leading to strong growth for Originals & movies consumption on OTT
The pandemic changed a number of patterns in the overall consumer behaviour. Among other sectors, OTT has been one of the major areas which underwent a significant change during the pandemic. With theatres and other entertainment outlets being shut, inevitably OTT saw a huge demand from businesses as well as consumer end.
Here are a few of the some interesting trends that emerged in the space in 2020 which helps us to understand what we can expect in the times to come.
1. Sports streaming period saw the highest OTT Video consumption in 2020
Monthly Consumption, OTT Video, Bn Mins
Interestingly among all the content, sports streaming led in OTT video consumption in September and October through the streaming of IPL and other cricket and football leagues. Overall, there has been a total growth of 13% from January 2020 to January 2021.
2.Higher releases leading to strong growth for Originals & movies consumption on OTT
Genre wise engagement, OTT Video Industry, Jan`20 v/s Jan`21
Note: Analysis excluding YouTube
- Increased Investments: Both International & homegrown platforms have been heavily investing in creating & promoting more quality Originals
- Rise of regional OTT Platforms: Smaller OTT platforms have only focused on creating relevant Original content & have gained massive traction over the last year
- Mainstream movie releases: Higher number of mainstream releases of popular Bollywood & South Indian movies on Hotstar & Prime
- Dubbing of content: Increased dubbing of International movies into vernacular languages led to increased movies consumption
The engagement vividly increased from 180 minutes to 205 minutes majorly led by more releases in movies, originals. Apart from more investments into these platforms leading to more production and promotions, increased dubbing of international movies into vernacular languages also led to higher consumption.
3. Netflix led in NPS score
Player NPS, OTT Video Players, OND’20
Subscription-video on demand platforms have the highest Net Promoter Score (NPS). Netflix (78) led followed by Amazon Prime Video (56) and Hotstar (56) respectively. Higher NPS score means higher will be the user’s preference to spend time on platform and higher retention rates.
This space has been one of the most watched space and has shown changing trends which makes it more intriguing. With increasing flow in investments, the space is likely to see more maturity this year with more micro trends shaping the space.